BarCap London vs Raymond James London lifestyle?
Hi all,
Recently been given an offer for IBD SA at BarCap. I've been given the same for Raymond James although obviously their European focus is pretty much entirely M&A, at least as far as London is concerned.
My question at its heart is whether, particularly as I DON'T have one eye on the door and would like to develop a career in this industry (famous last words?), is it crazy to suggest that MM M&A at Raymond James will provide some semblance of a life where BarCap won't? I'm super lucky to have these offers, I recognise that. But I also want something of a life in my 20s, and to have at least some time to spend with my girlfriend/family/friends.
So if you were me, thinking long term about the sustainability of the IBD lifestyle, is there a chance RJ would be more manageable?
Thank you, and am hoping this isn't such a stupid question.
MM can actually be more intense due to leaner teams, more volume, and more responsibilities given to Analysts. Would pick Barclays, you can always get into MMs later down the line if you want, but the otherway will be harder
Yeah, I back Pan EU Monkey on this one – most of the boutiques are sweatshops, whereas BarCap is actually known for having somewhat of a decent lifestyle.
Barclays only converted 20% of SA to FT this year in London
If you're aiming for conversion then take RJ, they were 100%.
That's kind of false, but true at the same time. If you take all their markets and IBD their conversion rate was more around 40%, if you go for certain groups conversion was even lower
Are we sure this is accurate? The guys I interviewed with just now both quoted around 70% from the teams they had exposure to. 10% sounds really awfully low...
I think the exact stat was 18% across all interns in London IBD but I rounded to 20%.
A few teams were higher at around 40% (2/5 interns) but others were also 0-20%, so yes be careful.
If it were me, I would take RJ. Pretty tough job market right now so converting would be #1 priority.
See here, seems to agree: https://www.wallstreetoasis.com/forums/sa-to-ft-offer-rate-london
BarCap hands down. If you see yourself staying in banking for the long haul, you can always lateral to boutiques (or other BBs), which will be far more difficult coming from Raymond James. Secondly, if you come to decide that banking is not for you, you still have a fair shot at moving to PE/HF/CD
What the hell is Raymond James? Nuf said
Barclays >>> RJ by miles in Europe. Echoing what everyone has said as well: boutique tend to be worse that a lot of BB and Barclays is also pretty chill.
RJ LDN is a known sweatshop....
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